Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 30 - Gifts or contributions  

Subdivision 30-C - Rules applying to particular gifts of property  

Valuation requirements

SECTION 30-210   Approved valuers  

30-210(1)    

The * Arts Secretary may approve an individual as a valuer of a particular kind of property. The approval must be in writing, signed by the Secretary.

30-210(2)    
The Secretary must, in deciding whether to approve an individual, have regard to:

(a) the individual's qualifications, experience and knowledge in valuing that kind of property; and

(b) the individual's knowledge of the current ^* GST inclusive market value of that kind of property; and

(c) the individual's standing in the professional community.